LIC Jeevan Labh plan - LIC New plans - LIC plan for 2022 - LIC India

LIC Jeevan Labh Plan 

LIC's Jeevan Labh is a limited premium paying, non-linked, with-profit endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of the unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

BENEFITS:

On Death : 

Sum Assured on Death + Simple Reversionary Bonuses till the term of death + Final

Additional Bonus shall be payable.

On Maturity : 

Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus shall be

payable.

OPTIONAL BENEFITS:

Accidental Benefit Rider: On Death double the Sum Assured shall be payable.

The benefit covered under this plan is up to the age of Life Assured is 70 Years or till PPT, whichever is earlier. Accidental Death and Disability Benefit: On Death double the Sum Assured shall be payable.

Allowed only for Age 18 years and above.

Maturity Benefits in Installments: 

Death benefit shall be received in instalments over a period of 5 or 10 or 15 years instead of lumpsum amount.

Term Assurance Rider: 

Provides Life Cover in case of Death. Allowed only for Age 18 years and above. The additional premium for the term rider is paid along with the premium of the basic plan.

Premium Waiver Rider : 

In case of the death of Proposer, the payment of premium falling due after the date of death shall be waived. It is granted on the basis of the Proposer's age, Personal declaration and other related documents.

The Rider can be revived at any time but within two consecutive years from due date of unpaid premium.

Critical Illness Rider : 

On the first diagnosis of any one of the 15 Critical Illness covered under this

rider, the Critical Sum Assured shall be payable. Nothing will be payable on Death and Maturity.

Critical Illness

1. Cancer for Specified Severity 9. Aortic Surgery

2. Open Chest CABG 10. Alzheimer's Disease/ Dementia

3. Myocardial Infraction 11. Blindness

4. Kidney Failure with Dialysis 12. Third Degree Burns

Critical Illness

5. Major Organ / Bone Marrow Transplant 13. Open Heart Valve Replace / Repair

6. Storke resulting in Permanent Symptoms 14. Benign Brain Tumor

7. Permanent Paralysis of Limbs 15. Primary (Idiopathic) Pulmonary Hypertension

8. Multiple Sclerosis ( Persisting Symptoms )

MODE OF PREMIUM:

Yearly, Half Yearly, Quarterly, Monthly

ELIGIBILITY CONDITIONS:

MIN AGE: 8

MIN TERM: 16,21,25

MIN SA: 200000

BASIC SA IN MULTIPLES OF 10000

MAX MATURITY AGE: 75

MAX TERM: 16,21,25

MAX SA: No-Limit

SURRENDER VALUE:

The policy can be surrendered at any time during the policy term provided at least two full years premium have been paid

Surrender Value equal to higher of Guaranteed Surrender Value or Special Surrender Value shall be payable.

Guaranteed Surrender Value : (Total Premiums paid excluding any extra premiums or riders x Surrender Value

Factor ) + (Vested bonuses x Surrender Value Factor for Vested bonuses)

Special Surrender Value : (Maturity paid-up Sum Assured + Vested bonuses) x Special Surrender value factor

Discounted Value of the sum of paid-up sum assured and the vested bonuses

LOAN:

At least two full years of premium payment to apply for the loan facility

The rate of interest for loan amount shall be determined from time to time by Corporation. 

For more info on LIC Jeevan Labh plan, visit LIC Jeevan Labh 

LIC Jeevan Lakshya Plan

JEEVAN LAKSHYA Plan

LIC's Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfil the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

BENEFITS:

On Death : 

Future premium will be waived.

10% of Sum Assured payable as Income benefit till maturity

At Maturity, 110% of Sum Assured + Reversionary Bonuses + Final Additional Bonus shall be payable.

 

On Maturity : 

Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus shall be

payable.

OPTIONAL BENEFITS:

Accidental Benefit Rider: On Death double the Sum Assured shall be payable.

The benefit covered under this plan is up to the age of Life Assured is 70 Years or till PPT, whichever is earlier.

Accidental Death and Disability Benefit: 

On Death Accidental Sum Assured shall be payable.

Allowed only for Age 18 years and above.

Maturity Installments: Death benefit shall be received in instalments over a period of 5 or 10 or

15 years instead of lumpsum amount.

Term Assurance Rider: Provides Life Cover in case of Death. Allowed only for Age 18 years and above.

The additional premium for the term rider is paid along with the premium of the basic plan.

MODE OF PREMIUM:

Yearly, Half Yearly, Quarterly, Monthly

ELIGIBILITY CONDITIONS:

MIN AGE: 18

MIN TERM: 13

MIN SA: 100000

MAX AGE: 50

MAX TERM: 25

MAX SA: No-Limit

BASIC SA IN MULTIPLES OF 10000

MAX MATURITY AGE: 65

SURRENDER VALUE:

The policy can be surrendered at any time during the policy term provided at least two full years premium has been paid. Surrender Value equal to higher of Guaranteed Surrender Value or Special Surrender Value shall be payable.

LOAN:

At least two full years of premium payment to apply for the loan facility

The loan is a percentage of Surrender Value

The rate of interest for loan amount shall be determined from time to time by Corporation.

LIC Branch 64Y - Trimulgherry - Secunderabad

LIC Branch 64Y 

Plot Sy No 72/P & 82/P

Besides Apseb Sub Station, Gunrock Trimulgherry, Secunderabad.

 Secunderabad, Telangana  - 500015

email id: bo_64Y@licindia.com

website : www. licindia.in

LIC Chennai - Premium collection center - Ashok Nagar,

LIC of India Premium collection center, Chennai  

No 22, A3, TRB Complex 1st Floor, 

1st Avenue, Ashok Nagar, 

Near Ashok Pillar Signal & Hotel Saravana Bhavan

Chennai - 600083, 

Contact : 044-38091259, 9816312429

LIC Branch 70S - Egmore - Chennai - Tamil Nadu - 600 008

LIC of India Egmore Branch, 

LIC Branch -70S,  Chennai City Branch - 26,

No 140, Marshall Road, Egmore, Chennai - 600008, 

Landmark: Near Government Eye Hospital

Phone - 044 - 23450326, 23450336, 

email: bo.70s@licindia.com

Website: https://licindia.in/

LIC Branch in Channapatna - LIC Premium payments - LIC Branch office - LIC 610 Branch

LIC Branch in Channapatna - 601

640/1, Chikkamalur,
Bangalore Mysore Highway
Channapatna,  

Karnataka, Pin Code: 571501

Ph No.: 080-7200296, 

Email id:bo_601@licindia.com

LIC BRANCH - KR PURAM - LIC OFFICE 36A - LIC Bangalore Branch office

LIC Branch - KR Puram

Lakshmi Complex, #41 Opp Syndicate Bank, 

Old Madras Road. Krisnarajapuram, 

Bangalore. Branch Code: 36A

+91- 80-22966891

LIC Premium collection center, Thanisandra Main Road, Bengaluru, Karnataka

LIC Premium Collection Centre
1st Floor, Ratnamma Laxman Building,
Aswathnagar Bus Stop, Thanisandra Main Road,
Next to DTDC Domestic & International Courier,
Bengaluru, Karnataka - 560 077.

Phone: 093435 38081
Hours or services may differ, please confirm and go. 

LIC Premium point Vijaya Nagara, Bengalur, Karnataka, India

LIC Premium Point,
161/1,8TH MAIN, 18TH CROSS, 
OPPOSITE TO VIJAYANAGAR WATER TANK, 
Near Union Bank, Bengaluru, Karnataka 560040
Phone: 096110 21550

Hours or services may differ, please confirm and go.

LIC PREMIUM POINT BSK 2ND STAGE, Bangalore, Karnataka

LIC of India,

Address: 1504, 25th Main Rd, 
Banashankari Stage II, 
Banashankari, Bengaluru, 
Karnataka 560082

Phone: 099003 98400

LIC Premium point, Krishnarajapuram, K R Puram, Bangalore, Karnataka

LIC Premium Point, K R Puram 

Address: #37
Yogashema Munibayrappa layout
Maragondanahalli post,
Krishnarajapura, Bengaluru,
Karnataka 560036

Phone: 093412 29393
Hours or services may differ, please call and confirm

LIC of India online services

LIC of India's official website is http://www.licindia.in and http://www.licindia.com. Existing policyholders, new policyholders, those who want any info on LIC plans or for any services can visit any one of the above-given websites. 

LIC policyholder can get the following services at the website :

• Registration for e-Services
• Online payment facilities
• Policy schedule
• Policy status
• Bonus status
• Loan status
• Claims status
• Revival Quotation
• Premium due calendar
• Premium paid certificate
• Claim history
• Policy Bond/Proposal form image
• Grievance registration
• Process of various services and online forms
• Locators
• FAQs

LIC TAX SAVING PLANS 9886568000

LIC Tax Saving Plans 

LIC Tax saving plans with life insurance and tax saving under section 80Cis the best option for saving tax under section 80C of Income Tax Act. LIC Tax Saving plans are available from 0 age. Tax Saving plans from LIC of India is 100% safe and guaranteed*.

Kindly read the offer documents before signing the policy documents.

Indian Income Tax rules are as follows : 

No Tax up to Rs. 2, 50,000/-.

• From Rs. 2,50,001/- to Rs. 5,00,000/- the tax would be 5%,

• Rs.5,00,001/- to Rs.10,00,000/- the tax would be 20%

• Rs 10,00,001/- and above the tax would be 30%

Not having a good Life Insurance policy is a matter of concern. Life Insurance should not be considered only for Tax Saving but also for insuring life. There are many instruments for Tax Planning like PPF, Mutual Funds, Postal Savings etc., but Life Insurance plays a major role in policy holders life as a lifelong companion.

Other investments would be able to fulfill your aim only on reaching the final years but Life Insurance policy would help your family members to meet their goals he leaves the world also. Life Insurance should be at #1 place in your  investment list. You may be doing many investment in your life for dependent but nothing can be life LIC policy.

Benefits of LIC TAX SAVINGS PLANS

• All Premiums paid under LIC Insurance Polices* are eligible for Tax exemption under section 80C.

• A Person can invest upto Rs.1,50,000/-under section 80 C which includes Life Insurance premium, PF, Tution fee etc.,

• Survival Benefit amount received under MONEY BACK Plans are Tax free under section 10(10d).

• Any amount received from LIC like survival benefits, Maturity, Death claim are 100% Tax free under Section 10(10d).

The best tax saving plans

• LIC Jeevan Umang

• LIC Jeevan Anand

• LIC Jeevan Labh

Never sign the Insurance proposal without getting full information about the Insurance Advisor.

LIC Jeevan Umang plan

LIC Jeevan Umang Plan 845

           LIC Jeevan Umang is non-linked, whole life assurance plan with profits. This plan provides annual survival benefits at the end of the completion of premium payment up to 100 years of age and a maturity lump sum amount at maturity of term or death of the policyholder during the term.

           LIC Jeevan Umang Plan 845 was recently launched in the market and came into effect from 16th May, 2017. This plan is similar to Jeevan Tarang Plan.

           LIC Jeevan Umang is a whole life product i.e. it provides life coverage up to 100 years of age. A whole life plan is a life insurance plan which remains throughout the lifetime of the policyholder. There are various companies which have offered maturity and death benefits under such a policy,LIC is one of them.

Features 

• It is whole life insurance plan i.e. for 100 years
• 8% of the Sum Assured is paid as money back at the end of the term
• Large Sum Assured available under this plan.
• Benefits like LIC Accidental Death Disability Benefit Rider and Term Rider are available under this plan.
• Simple reversionary bonus is payable on maturity or early death.
• Suitable plan for pension.
• Premiums paid are exempted from income tax under 80c.
• Maturity amount is tax free under 10 (10D).

Eligibility Conditions

Age at Entry	90 Days (Completed)
Premium Paying Term (PPT)	15, 20, 25, & 30 Years
Maximum Age at Entry in Years (As per Nearest Birthday)	55 for 15 PPT
	50 for 20 PPT
	45 for 25 PPT
	40 for 30 PPT
Age at Maturity	100 Years (Nearest Birthday)
Policy Term	100 - Age at Entry
Basic Sum Assured	2,00,000 and above in multiples of 25,000
Premium Paying Mode	Yearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
Premium Mode Rebate	2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly

Benefits 

Death benefits

           On death before commencement of risk an amount equal to total amount of premium paid is given without any interest. On death after the commencement of risk a definite sum of Sum Assured on Death and vested Simple reversionary bonuses along with final additional bonus are given. Sum Assured on death is highest as it is 10 times of annualised premium or sum assured on maturity or absolute amount assured to be paid on death i.e. Basic Sum Assured. Premiums paid are tax free and free from any extra chargeable amount or rider premium.

Survival addition

           On the completion of the premium paying term (PPT), provided that all the due premiums have been cleared, an amount equal to 8% of basic sum assured is paid to the policyholder every year till maturity. The survival benefit payment is paid at the end of the premium paying term and on successful completion of every subsequent year till the policyholder survives or policy anniversary prior to the date of maturity.

Maturity Benefit

           On the successful completion of the term policy i.e. when all the due premiums have been paid, Sum Assured on Maturity along with vested reversionary bonuses and final additional bonus is paid. Here the sum assured on maturity is equal to basic sum assured.

Accidental and Disability benefit rider

           LIC’s accidental death and disability benefit rider is an optional rider available on payment of extra premium. This benefit can be availed any time during the premium paying term provided that the outstanding premium paying term is at least 5 years. Here the age nearer birthday of life assured should be 70 years and benefit is payable on the policy anniversary. If this benefit is chosen, an additional amount equal to accidental benefit sum insured is payable on death due to accident, provided that the rider is inforce at the time of accident. In case of permanent accidental disability an amount equal to Accident benefit sum is paid if the form of equal monthly installments spread over a period of 10 years and future premiums for Accident benefit sum assured along with premium for the portion of Basic sum assured is also given. If the assured dies before the expiry of the given period of 10 years, then in this case disability benefit installments which have not fallen due are paid along the claim amount.

Date of commencement of risk

           If the entry age of assured is less than 8 years of, then the risk under this plan will begin either one day before the completion of 2 years from the date of inception or one day before the policy anniversary, immediately following the completion of 8 years of age. For those aged 8 years and above, risk will start immediately.

Additional Information

• Loan Facility: The Life Assured can avail the Loan Facility under this Plan.
• Risk Coverage: This option is available until the end of the Policy Term.
• Riders: The LIC Jeevan Umang has rider option facility.
• Cooling off period: The Policy can be returned within 15 days if the Life Insured is not satisfied with the Terms and Conditions of the policy.
• Suicide Clause: If the Life Assured commits suicide within 12 months, 80% of the premium paid will be returned.
• Policy Revival: The Policy can be revived within 2 years from the date of first unpaid premium.
• Nominations/Assignments: The LIC Jeevan Umang provides Assignments and Nominations in this plan.